Competition and Antitrust - bpramanikassociates

An outline of the laws governing competition and antitrust Act

Competition and antitrust law were brought on board to examine market competition and big corporations' operational procedures.

The Antitrust Regulation Act (ATRA) examines firm economic power distribution and market competition. This Act makes it possible for small businesses to survive in the market and prohibits a single company from having a monopoly over the whole market. Antitrust laws apply to all types of businesses, regardless of whether they are transportation, distribution, manufacturing, and other industries.

The major role of antitrust and competition law

The Anti-Trust Regulation Act is essential in preventing and controlling unlawful commercial practices like price fixing and mergers that eliminate competition from the market or generate statism that results in a monopoly of trade. In this situation, anti-trust laws punish companies. Previously it was known as MRTP Act 1967 and later on converted into Competition Act 2002

The power that comes under antitrust law

  • This Act prohibits contracts and behavior between two commercial organizations that restrict competition.
  • It prohibited monopolies that worked to destroy particular businesses or consumers.
  • To develop opportunities for every business to maintain market competition and allow all businessmen equal access to the market.
  • This Act works to ban those firms who do not promote fair and healthy competition in the market.
  • This Act encourages Indian companies to compete with all those foreign organizations.

Our Expertise in competition and Antitrust Law

We are aware of all the legal requirements and laws needed to operate a business. We support small business owners in the competitive market by educating them about their legal rights under antitrust and competition laws.

We have assisted numerous clients with this issue over the course of our business' existence, and our team of knowledgeable attorneys can easily handle cases with ease.

FAQs

Frequently Asked
Questions

What does the antitrust law prohibit?

Antitrust law prohibited businesses that set a monopoly in the market. it also controls business that tries to destroy small business and competitions.

Is competition and Anti Trust Law are same?

They both laws are quite the same but have a little difference. Anti-competition Define the rules that have been established to prevent and stop illegal commercial practices that raise the price, degrade quality, or inhibit innovation.  Antitrust laws are those that reduce a company’s market dominance to promote competition. Market power is the capacity to influence prices through the control of supply, demand, or sometimes both.

Is Antitrust Law is effective?

Yes, the antitrust law is quite effective, even though it was created in response to unnatural economic practices, business monopoly, prevent competition.

How to reach you for these services?

Location: 158, Dumdum Road, Kolkata – 700074, West Bengal, India  (Beside Dumdum Ghoshpara State Bank E-Corner; Landmark – Dumdum Hanuman Mandir)

Phone:+91 9339055647

Email: info@bpramanikassociates.com

Website: www.bpramanikassociates.com

When did this law become active in India?

This Act, which replaced the MRTP Act, is known as the Competition Act of 2002. Started in 2002

Do these laws work same for the all countries?

No, every individual country has its own rules and Acts they work according to that.

What are the advantages of the Competitive Act 2002?

  • It encourages healthy market competition
  • It guarantees trade freedom in the Indian Market.
  • It actively works to avoid market abuse of a dominating position.
  • It educates the public and provides training on the Competition Act.

What was the purpose to redesign the competitive Act 2002?

This act was a redesigned for various purposes

  • Prohibited of anti-competitive agreement
  • Prohibited from the dominant position
  • Regulations of combinations

Is this law applies to all businesses?

Yes, this applies to all businesses around India.

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